Anduril Industries Valued At $14B After $1.5B Series F

matched its own record for the largest defense tech round ever.

The Costa Mesa, California-based startup locked up a $1.5 billion Series F that values the company at $14 billion 鈥� a 69% jump from the $8.5 billion valuation it received after its massive $1.5 billion Series E in late 2022.

The round was co-led by and . New investors Management & Research Co., and , joined the round as well as existing investors including and .

The company will use some of the new proceeds for the development of Arsenal-1 鈥� a more than 5 million-square-foot production space designed to produce tens of thousands of autonomous military systems annually.

Defense tech鈥檚 roll

After a slow start to the year, funding to defense tech startups has picked up dramatically in the past few months.

Just last month, , which develops artificial intelligence software for defense, raised approximately $489 million in funding led by that values the company at $5.4 billion. The Germany-based startup designs software that helps boost weapons capabilities in drones and jet fighters and improves battlefield decision-making.

After Anduril鈥檚 huge round, defense tech startups now have raised $2.5 billion, per SA国际传媒 . Last year, such startups collected only $2 billion total.